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Readymix after-tax loss down to $1.5m
The Readymix (West Indies) Ltd (RML) Group recorded a loss after tax of $1.58 million for the year ended December 31, 2013, compared to a loss of $8.5 million in 2012. Operating profit for the 2013 year was $4.59 million versus an operating loss of $8.4 million in 2012, an improvement of $12.9 million, the company’s results stated.
“The Group undertook a restructuring exercise of Premix and Precast Concrete Incorporated (PPCI), its subsidiary in Barbados, and incurred a cost of $4.5 million, inclusive of the impairment of goodwill. “In Trinidad, there was overall improvement in performance based on increased activity in the construction sector and the demand for aggregate in the industry, and this is likely to continue,” stated the results.